Travel and Tourism Scenario

Tourism is a global industry that has played a dominant role in the development of many destinations and communities around the world building and transforming their economies from long time low to a new height. In order to ensure the long term sustainability of the industry in their destination and tourism development, it drew upon free and abundantly available natural, historical, social and cultural resources.

Tourism can provide tremendous economic and employment opportunities in the developing nations. Another challenge faced by the developing nations is unemployment (not only of the uneducated but also of the educated youth). Tourism seems to be ideally suited for absorbing vast human resource potential that we have in our country. From airports to hotels, artifacts to handicrafts, transport to entertainment tourism industry is capable of providing numerous employment opportunities due to multiplier effect.

Why tourism Matters

International tourist arrivals reached 1,138 million in 2014, a 4.7% increase over the previous year, according to the latest UNWTO World Tourism Barometer. For 2015, UNWTO forecasts international tourism to grow by 3% to 4%, further contributing to the global economic recovery.

The number of international tourists (overnight visitors) reached 1,138 million in 2014, 51 million more than in 2013. With an increase of 4.7%, this is the fifth consecutive year of above average growth since the 2009 economic crisis. Travel & Tourism’s direct contribution to world gross domestic product (GDP) and employment in 2014 was US$2.4 trillion (2014 prices) and 105 million jobs respectively and Asia has remained the key growth driver for the world outbound travel market once more this year with a growth rate of 8% in the first eight months. Moreover for 2015 Asia is expected to outpace the rest of the globe again with 8% growth in outbound trips, the World Travel Monitor Forum in Pisa heard.

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